ConocoPhillips’ chief executive, James Mulva, has never been hurting in the wallet department. Since 2002 when he assembled the company and moved it to Houston, he’s been a persistent Top 10 member of the Chronicle’s list of highest-paid executives. This year was no exception, with Mulva raking in total compensation of $18 million.

They’re very much in the money, with strike prices between $25 and $32 or so. Given that ConocoPhillips shares closed at just over $73 a share on Wednesday, our rough estimate is that those about-to-expire options are worth something like $155 million now. Put all his exercisable options together, and you’re closer to $255 million.

Unless something goes very wrong between now and the first half of next year, when the spin-off is supposed to be completed, then Mulva stands to make a bundle on his options. He has more coming to him than that, however. His nearly 3 million shares of unvested restricted stock or stock units would be worth some $217 million at current prices. Plus, as of December 31, his company pension had ballooned to about $62 million, and he had accumulated a deferred-compensation account of $45.6 million, counting both his contributions and the returns the company has promised to pay him on those amounts.

All of that totals more than $360 million that Mulva could be looking at for his retirement, and that doesn’t count unvested restricted shares. Apparently, the compensation committee at ConocoPhillips takes the term “golden years” literally.

“Since 2002 when he assembled the company and moved it to Houston, he’s been a persistent Top 10 member of the Chronicle’s list of highest-paid executives” and “points out, Mulva has also amassed a huge cache of stock options — about 7.5 million of them — about half of which are set to expire by mid-November”

I am as against unjust wages, excessive as well as low compensation. What I miss above is the market price “at the time of issue”. Has the stock appreciated since they were issued these past 9 years?

Further, I do not know this guys history, but in transitions some of these options might have been from periods subsequent to this analysis?

I think it unfortunate that these were not mentioned, because it does skew the picture in one particular unflattering direction for both him and those members of the management team that appreciated and rewarded the contributions. Further, I do not know “””any”””” particulars for this discussion, nor do I care beyond what I see above.